508 Sprucepine Rd · Dothan, AL 36301

$254,900

3 bd · 2.0 ba · 1,831 sqft · SingleFamily public records · 64 Days on market

Built 2008 0.25 ac lot $139/sqft · 7% above area Est $240k · 6% over $20/mo HOA · 1% of rent

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.8/30.0
• DSCR +8.6/10.0
• 1% rule +5.7/10.0
• ARV discount +4.8/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 508 Sprucepine Rd located in the desirable Pine Lake Subdivision. This immaculate All Brick home was built in 2008 and has been very well cared for. With 3 bedrooms, 2 full baths, and 1850 sqft of living space, there is plenty of room for everyone! You will find an open, spacious living room that flows into the separate kitchen and dining space. All the stainless-steel kitchen appliances stay. There is also a walk-in pantry with plenty of shelving, a separate laundry room, built in bookshelves near the primary bedroom entryway, and a built-in desk space off the main living room. The bedrooms are split with the primary bedroom being towards the back of the home and the secondary bedrooms near the front. The primary bath has a walk-in closet, separate toilet room, double vanity, tiled shower with a built-in seat, and a jetted bathtub. When you step out back you will enjoy a great covered patio, an outdoor swing, and an all-vinyl privacy fenced yard with no rear neighbors! Recent upgrades include new flooring, fully painted interior, and new AC unit in 2023. Located just outside of town less than 15 minutes to West Side shopping and Flowers Hospital. Public water and sewer.

Key facts

• Outdoor swing
• Covered patio
• Built in desk space

Tags

• WALK IN PANTRY
• BUILT IN BOOKSHELVES
• BUILT IN DESK SPACE
• COVERED PATIO
• OUTDOOR SWING
• VINYL PRIVACY FENCED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $618 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• Recommended offer: $240k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.4% in Dothan — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#146 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Dothan City (urban): math 19% / reading 39% proficiency, ranked #73 of 129 in AL (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Selma Street Elementary School (math 13% / reading 33%, grade F, #431 of 627 statewide, top 69%, 413 students, 93% FRL); Dothan Preparatory Academy (math 12% / reading 38%, grade F, #163 of 257 statewide, top 64%, 1,133 students, 78% FRL) — zoned schools average 85% FRL vs 59% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 412 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 463 units permitted in Houston County in 2024 (96 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Houston County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $181k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $239,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.39%
• DSCR: 1.46
• GRM: 7.8

CMA / ARV

• ARV (median comp): $240,321
• List price: $254,900
• Delta: 6.07%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 Pepperridge Rd	0.23mi	3/2.0	1,852 (+1%)	2mo	$262,000	$141	86
106 Needle Pne	0.31mi	3/2.0	1,836 (+0%)	1mo	$185,000	$101	84
106 Waxmyrtle Rd	0.12mi	3/2.0	1,695 (-7%)	6mo	$225,000	$133	77
114 Bluffton Rd	0.16mi	4/2.0 (+1)	1,937 (+6%)	8mo	$269,900	$139	72
213 Foxfire Dr	0.38mi	3/2.0	1,672 (-9%)	2mo	$265,000	$158	66
100 Sugarberry Rd	0.32mi	3/2.0	1,638 (-10%)	3mo	$247,000	$151	65
607 Lakewood Dr	0.49mi	3/2.0	2,004 (+9%)	7mo	$241,500	$121	56
215 Foxfire Dr	0.40mi	3/2.0	1,600 (-13%)	9mo	$265,000	$166	53
2002 Spaulding Rd	0.47mi	4/2.0 (+1)	2,045 (+12%)	2mo	$216,900	$106	52
2002 Spaulding Rd	0.47mi	4/2.0 (+1)	2,045 (+12%)	2mo	$216,900	$106	52
206 Hidden Creek Cir	0.69mi	2/2.0 (-1)	1,696 (-7%)	3mo	$261,500	$154	48
110 Berry Patch Ln	0.70mi	3/2.0	2,052 (+12%)	2mo	$291,500	$142	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-2,057
• Equity at exit: $38,006

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $48,466
• Equity at exit: $22,039

Cash invested: $71,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 36301

• Home prices YoY: -24.9%
• Active inventory: 412
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,719 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$106
• HOA: −$20
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $618

Break-even live

Break-even rent $1,937

Max offer price $254,900

Occupancy floor 72%

Sensitivity live

Price	-10% $762	-5% $690	+0% $618	+5% $546	+10% $474
Rent	-10% $403	-5% $510	+0% $618	+5% $725	+10% $833
Rate	-1.0pp $746	-0.5pp $683	base $618	+0.5pp $552	+1.0pp $485

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1605 Ivy Dr Dothan, AL	3.0	2.0	1888	$3,400	$1.80	45d	1	0.51mi
306 Hidden Creek Cir #1 Dothan, AL	2.0	2.0	1233	$1,450	$1.18	45d	1	0.66mi

HOA detail

• Monthly dues: $20 · $240/yr
• Likely covers: watersewer

Listing history 8 events

1. 2026-05-18
   historical Active Under Contract 1200-char remark

   Show marketing remark (1200 chars)

   Welcome to 508 Sprucepine Rd located in the desirable Pine Lake Subdivision. This immaculate All Brick home was built in 2008 and has been very well cared for. With 3 bedrooms, 2 full baths, and 1850 sqft of living space, there is plenty of room for everyone! You will find an open, spacious living room that flows into the separate kitchen and dining space. All the stainless-steel kitchen appliances stay. There is also a walk-in pantry with plenty of shelving, a separate laundry room, built in bookshelves near the primary bedroom entryway, and a built-in desk space off the main living room. The bedrooms are split with the primary bedroom being towards the back of the home and the secondary bedrooms near the front. The primary bath has a walk-in closet, separate toilet room, double vanity, tiled shower with a built-in seat, and a jetted bathtub. When you step out back you will enjoy a great covered patio, an outdoor swing, and an all-vinyl privacy fenced yard with no rear neighbors! Recent upgrades include new flooring, fully painted interior, and new AC unit in 2023. Located just outside of town less than 15 minutes to West Side shopping and Flowers Hospital. Public water and sewer.

2. 2026-05-13
   price $254,900 1200-char remark

   Show marketing remark (1200 chars)

   Welcome to 508 Sprucepine Rd located in the desirable Pine Lake Subdivision. This immaculate All Brick home was built in 2008 and has been very well cared for. With 3 bedrooms, 2 full baths, and 1850 sqft of living space, there is plenty of room for everyone! You will find an open, spacious living room that flows into the separate kitchen and dining space. All the stainless-steel kitchen appliances stay. There is also a walk-in pantry with plenty of shelving, a separate laundry room, built in bookshelves near the primary bedroom entryway, and a built-in desk space off the main living room. The bedrooms are split with the primary bedroom being towards the back of the home and the secondary bedrooms near the front. The primary bath has a walk-in closet, separate toilet room, double vanity, tiled shower with a built-in seat, and a jetted bathtub. When you step out back you will enjoy a great covered patio, an outdoor swing, and an all-vinyl privacy fenced yard with no rear neighbors! Recent upgrades include new flooring, fully painted interior, and new AC unit in 2023. Located just outside of town less than 15 minutes to West Side shopping and Flowers Hospital. Public water and sewer.

3. 2026-03-23
   listed $265,000 Active 1200-char remark

   Show marketing remark (1200 chars)

   Welcome to 508 Sprucepine Rd located in the desirable Pine Lake Subdivision. This immaculate All Brick home was built in 2008 and has been very well cared for. With 3 bedrooms, 2 full baths, and 1850 sqft of living space, there is plenty of room for everyone! You will find an open, spacious living room that flows into the separate kitchen and dining space. All the stainless-steel kitchen appliances stay. There is also a walk-in pantry with plenty of shelving, a separate laundry room, built in bookshelves near the primary bedroom entryway, and a built-in desk space off the main living room. The bedrooms are split with the primary bedroom being towards the back of the home and the secondary bedrooms near the front. The primary bath has a walk-in closet, separate toilet room, double vanity, tiled shower with a built-in seat, and a jetted bathtub. When you step out back you will enjoy a great covered patio, an outdoor swing, and an all-vinyl privacy fenced yard with no rear neighbors! Recent upgrades include new flooring, fully painted interior, and new AC unit in 2023. Located just outside of town less than 15 minutes to West Side shopping and Flowers Hospital. Public water and sewer.

4. 2020-04-14
   soldstatus $180,900 530-char remark

   Show marketing remark (530 chars)

   Stunning home in Pine Lake S/D features a family room with a tray ceiling & computer area & beautiful crown molding throughout home. Spacious KIT has all stainless steel appliances & large walk-in pantry. MBA w/ double vanity, garden tub, large ceramic tile shower & big walk in closet. Private backyard includes a 13x13 covered patio with a large screen HDTV that stays w/ the home. Also, great features such as sprinkler & security systems. All in a lovely S/D w/ a stocked pond & playground.

5. 2020-04-14
   soldstatus $180,900

   Show marketing remark (530 chars)

   Stunning home in Pine Lake S/D features a family room with a tray ceiling & computer area & beautiful crown molding throughout home. Spacious KIT has all stainless steel appliances & large walk-in pantry. MBA w/ double vanity, garden tub, large ceramic tile shower & big walk in closet. Private backyard includes a 13x13 covered patio with a large screen HDTV that stays w/ the home. Also, great features such as sprinkler & security systems. All in a lovely S/D w/ a stocked pond & playground.

6. 2016-05-26
   soldstatus $166,400
7. 2016-05-25
   soldstatus $166,000
8. 2015-09-27
   listed $179,300

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $804 · $67/mo
• Projected year-2 tax: $1,045 · $87/mo
• Expected delta: +$241/yr (+$20/mo · 30.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,624
• − Mortgage interest: −$14,278
• − Property taxes: −$804
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,610
• − Management: −$2,610
• − HOA: −$240
• − Depreciation: −$7,415
• Taxable income: $3,392
• Est. tax owed @ 24.0%: −$814
• After-tax cash flow: $6,600/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Dothan City
• NCES district ID: 0101230
• Math proficiency: 19% ▼ -23.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $42,279
• Composite: 24.56/100
• National rank: #7640
• State rank: #73 of 129 in AL

Livability — Dothan

• Score: 64/100
• State rank: #146
• US rank: #13662

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dothan, AL
• City population: 47,783
• Population (ZIP): 38,627

Population outlook (Houston County) Hauer SSP2

• Today (2025): 110,280 people
• By 2030: 112,668 · +2.2%
• By 2040: 116,149 · +5.3%
• By 2050: 117,805 · +6.8%
• By 2075: 118,577 · +7.5%
• By 2100: 110,940 · +0.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Houston

• 2024 margin: Solid R (+47.8) · D 25.7% · R 73.5%
• 2008→2024 swing: -7.0pp toward R · 2008: -40.8pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+42.7 2016: R+47.6 2012: R+40.3 2008: R+40.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.46%
• Current HPI: 161.1212
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

+42.2% since first listed

8 events — show timeline

• 2026-05-18 Contingent — SAMLS
• 2026-05-13 Price Changed $254,900 SAMLS
• 2026-03-23 Listed $265,000 SAMLS
• 2020-04-14 Sold (Public Records) $180,900 Public Records
• 2020-04-14 Sold (MLS) $180,900 SAMLS
• 2016-05-26 Sold (Public Records) $166,400 Public Records
• 2016-05-25 Sold (MLS) $166,000 SAMLS
• 2015-09-27 Listed $179,300 SAMLS

Property tax history

-3.4%/yr

Latest (2025): $804 · +2.2% YoY. Source: county tax records.